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European Parliament’s compromise vote on EU carbon market compromises our ability to prevent climate breakdown
Despite some progress and a number of hardwon victories for the climate, MEPs on the European Parliament’s environment committee failed to raise the ambition of the EU’s Emissions Trading System (EU ETS) to a level that would avoid catastrophic temperature rises. After almost a year in the legislative pipeline since it was proposed as part of the European Commission’s ‘Fit for 55’ policy package last summer, the reform of the EU ETS was voted on at the European Parliament’s Environment Committee on Tuesday 17 May.* MEPs voted on a string of issues related to emissions trading, including free pollution permits, creating a border levy known as the Carbon Border Adjustment…
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Carbon removals under scrutiny
Key dates: The talks between EU governments and the European Parliament on the higher 2030 climate target – ongoing (the Portuguese presidency aims to wrap them up) Carbon dioxide removal (CDR) refers to removing greenhouse gases from the atmosphere and storing them permanently on land, underground or in the oceans. It could be based on natural processes such as forests and land that act as “carbon sinks” (so-called CDR ‘practices’) or a variety of technology solutions. A word of caution; certain industry actors present carbon capture and storage and utilization technologies as CDR. They can only be considered CDR if they meet the definition of removing carbon from the…
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Europe is taking the lead on pricing pollution from ships
Key dates 24-28 May: IMO Intersessional Working Group on Reduction of GHG Emissions from Ships 14-18 June: IMO 76th Marine Environmental Protection Committee The Parliament, EU member states and the Commission trilogue negotiations on the MRV rules for the collection of data on shipping emissions – ongoing June: The EU Commission proposal to bring international shipping in the EU carbon market The European Parliament wants to bring international shipping under the EU carbon market and the EU Commission is looking into it. Europe moving on the carbon pricing front is a result of the utter failure to tackle the issue at the global level. Tasked to come up with solutions to reduce…
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EU needs to step up efforts to price aviation emissions
Key dates: June 2021: Publication of the Commission proposal to review the EU ETS and implement CORSIA Imminent: the European Commission was mandated to publish, before CORSIA becomes operational, a report about CORSIA and how to implement it in the EU. This report has been written but has not been published. CORSIA became operational on January 1st, 2021. The EU Green Deal requires an effort from all sectors of the economy, including aviation, in order to reach Europe’s economy-wide emission reduction commitments. The European Commission has proposed several options to implement the global aviation scheme CORSIA and combine it with the EU emissions trading scheme (EU ETS). In line with…
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Global carbon markets must be climate (not greenwashing!) tools
Key dates: The COP26 was postponed until November 2021, the dates for UNFCCC “inter-sessional” climate conferences for 2021 are not set yet 25 January: High-level “Davos Dialogues” The presentation of the “Carney Taskforce” report on scaling voluntary carbon markets Governments didn’t find common ground on the rules for global carbon markets at the latest UN climate talks in Madrid. The next attempt at clinching a deal on Article 6 will likely be at the COP26 this year. But this doesn’t stop countries from making bilateral deals on global markets. Switzerland has struck such a carbon offsetting agreement with Peru. This agreement includes positive elements that could form a basis for the…
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The EU’s climate policy super year is the last chance to tackle industrial pollution
Key dates: 5 February: Deadline for public consultations on the EU emissions trading system, effort sharing regulation and land-use, land-use change and forestry regulation 22-26 February: EU industry days 23 March: Deadline for public consultation on the industrial emissions directive 18 March & 21 June: EU environment Council 25-26 March: European Council June: The Commission is expected to publish the “Fit for 55” climate package and the Carbon Border Adjustment measure proposal In December 2020, EU leaders agreed on a new 2030 net target of cutting greenhouse gas emissions by at least 55% by 2030. The European Parliament supports a 60% objective (gross i.e. without sinks). Carbon Market Watch advocates…
